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1341  Economy / Trading Discussion / Re: Mtgox bank transfer withdraw USD? on: March 30, 2013, 09:56:36 AM
Yes I'm in the US so I should just withdraw with Dwolla?

You'll need to have a verified account at Mt. Gox to use Dwolla as a withdrawal method (if I remember correctly), but yes -- Dwolla is a fantastic and inexpensive withdrawal method.  There is one caveat in that you never know how long the withdrawal will take.  It could be hours, or days (and weeks even, when there is an imbalance).    Worst case scenario your withdrawal request is queued up, you cancel it and figure out some other method.
1342  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: March 30, 2013, 09:29:55 AM
Settlement price determination is done by "taking a screenshot".

The 24 hour weighted average price (VWAP) showing on Mt. Gox.com website is what gets used for settlement. [Edit: The 24 hour VWAP at the "largest exchange" is what gets used for settlement, but that just happens to be Mt. Gox, for now.]

The settlement occurs at the clearing time (20:00 UTC) on the settlement date (e.g., April 14th, 2012 for BUJ3).   That's from the contract, combined with general instructions from the page describing how ICBIT futures work.  

As far as that number being obtained from a "screen shot", every trade at Mt. Gox is logged and is publicly available.  From that data, you can calculate the 24 hour VWAP yourself.  If you have reason to believe the VWAP grabbed at the time of settlement (20:00 UTC) is not accurate please raise that concern publicly as that would be a problem (as many merchants, traders, and others use that metric from Mt. Gox as well, ... though nobody else has raised concern about its accuracy.)

Of course, there needs to be just "one price" used for settlement at ICBIT.  And that price needs to be known at the time of that settlement day's clearing.   If you believe the use of this 24 hour VWAP is problematic, or whatever issue you seem to have with this metric being used, please clearly state your argument.   If I recollect it seems that you are saying you believe the 24 hour metric at 00:00 UTC (four hours after clearing) should be the metric used and not the number that existed at the time of the 20:00 clearing.  Am I understanding correctly where you believe the issue lies?  If not, please clearly describe what exactly is the particular problem you see with using the 24 hour VWAP that exists at the time settlement (& daily clearing) occurs.
1343  Other / CPU/GPU Bitcoin mining hardware / Re: Best advice for someone wanting to get serious about mining alt coins? on: March 30, 2013, 09:10:26 AM
Worth it at all?

That's like asking what the S&P index will be next year.  Nobody knows.

Mining is a form of speculation.  A miner is speculating on the two unknowns -- the future exchange rate and the future difficulty level. The profitability can fluctuate but generally reverts to roughly break-even.  So most miners who see gains are those who mined and saved their proceeds and then after a run-up sell the coins at a nice profit   This really is not much different from speculating on the exchange rate.   In fact, those who simply bought coins instead of buying mining hardware end up with more coins at the end than the miners do -- in most circumstances.   If you are needing to pay electricity from your mining proceeds, then you won't have many coins left and if there is a rise in the exchange rate you will not really benefit much from that.

Now if the exchange rate drops, miners generally do better than coin speculators on a "per dollar invested" comparison.    But then again, that just means miners lost a lower amount (in USD terms) than did speculators of the coin.

But seriously, there are like tens of thousands of GPUs getting taken offline from Bitcoin mining.  Many of those will switch to Litecoin -- and since many of those rigs have already been fully paid off thanks to Bitcoin mining revenues, the operators would be happy to mine at a break-even level, or at a loss even with the anticipation that the exchange rate for the alt will rise in value.   In other words, if you are investing in hardware you are having to compete with others who essentially see their hardware investment cost as being "zero".     So you probably don't want to do anything unless you have some other purpose for the hardware you would be acquiring.
1344  Economy / Currency exchange / Re: deleted on: March 30, 2013, 08:58:43 AM

I didn't see the thread before it got changed to "deleted".  

The text of the Tweet was:

"Best way to withdraw cash (without raising tax issues) http://ur1.ca/d7n97  #bitcoin"

Now it is implied that the person is wanting to sell bitcoins, presumably after recognizing gains on those versus the acquisition cost but then cashing them out without reporting the gains as taxable income.

Without any context though, such as what jurisdiction that party resides, the answer will vary.  There may not even be any tax consequences, depending on jurisdiction.  It is unfortunate that this post was "deleted".
1345  Other / Beginners & Help / Re: Hey guys! Quick question. on: March 30, 2013, 08:53:46 AM
What website can i buy bitcoins with my creditcard, and get them directly in my wallet?

When BTCQuick has stock, you might get a few:
 - https://btcquick.com

With VirWoX, it may not be instant withdrawal, but perhaps a day.
 - http://www.VirWoX.com  <-- Buy Second Life Lindens (SLLs) with credit card, convert to BTCs and withdraw.

There isn't much else for credit card.   BTC-E had LiqPay for a while, but that is currently suspended.

1346  Other / Beginners & Help / Re: Nexus 10 OpenCL? on: March 30, 2013, 08:49:15 AM
But anyway I read that there is OpenCL support for Nexus 10.. Does anyone have any idea if it's possible to mine on a Nexus 10?

Using Android, or rooted and booted to Linux.

There was an Android mining app at one time.  

Either way, with ASICs shipping don't waste your time even looking at doing that for Bitcoin, and for Litecoin an AndLTC miner exists but you'll barely see Litecoin revenue from that either.
1347  Economy / Speculation / Re: Unexpected interest in Bitcoin from random people. on: March 30, 2013, 08:44:45 AM
Share your anecdotal evidence please.

Yesterday I spoke with a sales rep from mobile app service that provides online ordering for restaurants.  I noted how they only accepted VISA/MasterCard/AMEX, etc. and I said that I preferred to pay in Bitcoin and asked if that was possible.  

Not only was the response not "Um ..., what's that?", the response instead was, without hesitation, that to be lean on their end (being a startup) they had to choose just one payment provider and Stripe was that one they chose.   So they definitely knew what Bitcoin was and apparently had considered it.  Bitcoin as a Brand is growing thanks to the free press it gets and because of the cheerleading from everyone holding bitcoins.
1348  Economy / Trading Discussion / Re: Why Polish bank accounts? on: March 30, 2013, 08:31:24 AM
Why not some other EU country?

It isn't just the same country, it is the same bank, right?
1349  Economy / Gambling / Re: Kingcoin: A delightfully simple spin-the-wheel game (that's provably fair) on: March 30, 2013, 08:27:38 AM
November 28, 2012
A minimum bet amount of 0.01 is now required (either BTC or points).

Can that be lowered, now considering the increased BTC/USD exchange

Additionally, could the default be lowered as well, from 0.1 BTC?   At nearly $10 per spin, that's a little high.
1350  Other / Beginners & Help / Re: Open-source trade server software on: March 30, 2013, 05:47:17 AM
Is there any open-source implementation of a web-based trading platform? You know... something like MtGox, but open-source.

Every exchange seems to have rolled their own.  Bitcoin-Central.net had at one time shared their code.  Intersango too, before they rewrote the exchange that they use today. 

Others, such as BitMe.com, wrote their own but never reached a sufficient volume to justify the effort.  Developing an exchange that is secure is an expensive endeavor.
1351  Other / Beginners & Help / Re: blockchain.info question on: March 30, 2013, 04:03:37 AM
Or does anyone have any suggestions for a UKer to buy Bitcoins?

The factors that matter in order to give you the best answer include:

 - Where are you located (country)?  [You mentioned UK, GBP currency]
 - How much are you looking to buy?
 - What payment methods do you have available?
 - How soon do you need access to the proceeds?
 - Is privacy important?


With TransferWise, for instance, the TransferWise account can be funded with GBPs and then convert to EUR.  BITSTAMP is an exchange that accepts EUR SEPA transfers.  You can even fund a TransferWise account with a bank debit card,   There is further discussion of it here:
 - http://www.reddit.com/r/BitcoinUK/comments/1b8rug/

In the UK there is also
 - http://www.bitbargain.co.uk

You can send cash (GBP) in the mail to www.bitcoinnordic.com in Denmark.
 - http://www.BitcoinNordic.com

Bitcoin Fridge is temporarily not selling but said would resume in April.
 - http://www.BitcoinFridge.co.uk

A fairly comprehensive list of options is compiled here:
 - http://en.bitcoin.it/wiki/Buying_bitcoins
1352  Other / Beginners & Help / Re: Is there any fee to send your funds in your Dwolla account to Mt.Gox account? on: March 29, 2013, 11:10:15 PM
If so, how much is the fee.

Amounts between $1 and up to $10, free.  $10.01 and up, $0.25 per transaction.
1353  Economy / Speculation / Re: Here's how you can anticipate a coming crash/correction on: March 29, 2013, 10:28:08 PM
But I don't know how anyone could know that short of working there.

Periodically a number will be shared on the #mtgox irc channel.

7,700 was the number given within the past 24 hours.
1354  Bitcoin / Bitcoin Discussion / Re: What is the easiest, safest way for me to see my private keys in satoshi client? on: March 29, 2013, 10:25:57 PM
I know there is a dumpprivkey command in the console, but is there a way to show all the private keys for all addresses in the wallet?


pywallet has a dumpwallet command.

From the console, listaddressgroupings.
 - http://bitcoin.stackexchange.com/a/8393/153
1355  Economy / Trading Discussion / Re: I put $9,000 into a new Dwolla account. 30-Day Probation Period? on: March 29, 2013, 10:23:14 PM
I would like to exchange my $9000 to USD in the shortest amount of time possible.  What is the best way I could go about doing this?

Withdraw from Dwolla back to your bank.  Send a bank wire.

Sucks I realize, but you asked for "shortest amount of time possible".

You might find some traders for smaller amounts on the MtGox <--> Dwolla thread here on the forum or on #bitcoin-otc.  I'm not sure if Camp BX is also on the list of exchanges you aren't able to use for the 30 days but you could try.

1356  Bitcoin / Hardware / Re: Crowdsourced ASIC on: March 29, 2013, 10:10:32 PM
IMO Crowdsourcing would work better for buying bulk prefab ASIC chips (from Avalon, maybe helv in the future) and working from there; less risk if knowledgeable/experienced parties are involved. Vetting processes and possible recourse laid out in contracts etc...

August 9, 2012, forum user Friedcat describes investment opportunity for ASICMINER, which was to produce the chips to be mined by related organization MOORE mining.  $100K USD funds raised via GLBSE (equity crowdfunding), a record for a GLBSE raise, I believe, up until that time.

ASICMINER: Entering the Future of ASIC Mining by Inventing It
 - http://bitcointalk.org/index.php?topic=99497.0


February 14th, 2013, ASICMINER running 2.0 Thash/s against BTC GUILD, with much more to com:
 - http://bitcointalk.org/index.php?topic=99497.msg1527549#msg1527549


The first couple of weekly dividends on those ASICMINER shares were returning dividends of well over a third of the initial investment (in terms of BTCs dividend versus BTCs issued at).
1357  Other / Beginners & Help / Re: Micro-transactions unfeasible due to rising BTC value and competitive tx fees? on: March 29, 2013, 09:40:56 PM
Can only post here unfortunately.

Incidentally, the question on Reddit got a decent response:

 - http://www.reddit.com/r/Bitcoin/comments/1b8i8q
1358  Economy / Trading Discussion / Re: Mtgox bank transfer withdraw USD? on: March 29, 2013, 09:35:07 PM
Anyone know the roughly the total cost to withdraw via bank transfer from mtgox? $1000? $10,000? Is it a flat fee or percentage?

Are you in the U.S.?  If so, withdrawing to Dwolla cost just $0.25 per transaction and then from there withdrawing to your bank is free (as an ACH transfer).

If you do a bank wire, it can cost a certain amount from Mt. Gox (roughly in the ~$20 range) and your bank may charge for an incoming wire as well (also about $20 or less).

There are multiple cash-out methods available to you:
 - http://en.bitcoin.it/wiki/Selling_bitcoins

Wire transfers may incur delays before Mt. Gox sends the funds out.
1359  Economy / Service Discussion / Re: Bitinstant bitstamp withdrawals down? on: March 29, 2013, 07:09:04 PM
Have I been doing too many bitstamp withdrawals lately?  The option seems to be gone.

I see it in the pull-down.

Also at the bottom it shows:
 "Dwolla LIVE | Paypal LIVE | All Reserves UP!"

1360  Economy / Service Announcements / Re: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace on: March 29, 2013, 06:56:47 PM
I don't know if I should attribute this to the stupidity of people or if that many people really assume they will automatically get 5BTC this way.

It is a numbers game.  Eventually someone won't know how the site works, and will click the wrong thing and send funds.   Easy money, if you are doing it from a Internet cafe in some developing country.


So I'd like to leave feedback (negative) in these cases, since it REALLY bugs me to get a dozen "marked as paid" SMSs a day.

Now that needs to be made possible to do.
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